GOODWILL AND OTHER INDEFINITE-LIVED INTANGIBLE ASSETSGoodwill consisted of the following:
| | | | | |
| Goodwill |
| Balance as of January 1, 2024 | $ | 59,021 | |
| Acquisitions | 1,770 | |
| Balance as of December 31, 2024 | $ | 60,791 | |
| Acquisitions | 1,000 | |
| Balance as of December 31, 2025 | $ | 61,791 | |
There are no prior period accumulated goodwill impairment losses nor any goodwill impairment losses for the years ended December 31, 2025, 2024, and 2023.
As of the years ended December 31, 2025 and 2024, the Company's indefinite-lived intangible assets consisted of the following:
| | | | | | | | | | | |
| December 31, |
| 2025 | | 2024 |
| Licenses | $ | 6,270 | | | $ | 6,270 | |
| Total other indefinite-lived intangible assets | $ | 6,270 | | | $ | 6,270 | |
There are no prior period accumulated indefinite-lived intangible asset impairment losses nor any indefinite-lived intangible asset impairment losses for the years ended December 31, 2025, 2024, and 2023.
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.